New York Life | March 3, 2021
New York Life Foundation will match employee and agent contributions, offers assistance to policy owners.
NEW YORK — New York Life announced today that it donated $100,000 to Feeding Texas in response to the devastating winter storm that swept the region, allocating $100,000 to support immediate food shortage needs in the most vulnerable communities in the state. In addition, the New York Life Foundation will match donations made by employees and agents up to an additional $100,000 to both Feeding Texas and the New York Life Emergency Assistance Fund, which provides financial assistance to employees and agents impacted by catastrophic events. The New York Life Emergency Assistance Fund is available to employees and agents in Texas and surrounding regions impacted by the winter storm.
Ted Mathas, chairman and CEO of New York Life said, “As a life insurer, we’re in the business of helping people when the unexpected strikes. And, as we have for 175 years, we stand by our promise to be there for those whose lives can be made better with our help, and our ability to deliver on this promise is never more critical than in times like this.”
The company is continuing to work with local staff, federal officials and its charity partners in the affected areas to determine how it can best support long-term relief efforts going forward.
New York Life customers are eligible for crisis relief. For those who are in immediate financial need, New York Life can quickly provide emergency loans against the cash value of a current policy to help in recovery and rebuilding. New York Life also can assist if a policy owner needs a payment extension for a short time. Policy owners should visit New York Life’s Web site at www.newyorklife.com or call the toll-free line, 1-800-695-1314, for assistance.
In 2020, New York Life and its Foundation provided nearly $68 million in charitable contributions including nearly $35 million in response to the pandemic and other natural disasters to support communities across the country.
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
New York Life Group Benefit Solutions products and services are provided exclusively by or through Life Insurance Company of North America (“LINA”) or Cigna Life Insurance Company of New York (New York, NY) (“CLICNY”), or by or through affiliates or subsidiaries of Cigna Corporation and reinsured by LINA. LINA and CLICNY are responsible for their own financial condition and contractual obligations. LINA is not authorized in New York and does not conduct insurance business in New York.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/2020. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 10/15/2020: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
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